Millennium Management LLC Increases Stake in National Fuel Gas (NYSE:NFG)

Millennium Management LLC raised its holdings in National Fuel Gas (NYSE:NFG - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 272,130 shares of the oil and gas producer's stock after buying an additional 46,216 shares during the quarter. Millennium Management LLC owned about 0.30% of National Fuel Gas worth $16,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its stake in National Fuel Gas by 4.0% in the fourth quarter. Schroder Investment Management Group now owns 9,122 shares of the oil and gas producer's stock valued at $551,000 after buying an additional 350 shares during the last quarter. Clear Creek Financial Management LLC purchased a new stake in National Fuel Gas in the fourth quarter valued at about $238,000. Norges Bank purchased a new stake in National Fuel Gas in the fourth quarter valued at about $67,393,000. ING Groep NV purchased a new stake in National Fuel Gas in the fourth quarter valued at about $1,086,000. Finally, Proficio Capital Partners LLC purchased a new stake in National Fuel Gas in the fourth quarter valued at about $862,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Stock Performance

Shares of NYSE:NFG traded up $0.72 during trading on Tuesday, hitting $83.14. The stock had a trading volume of 407,319 shares, compared to its average volume of 560,145. National Fuel Gas has a 12-month low of $53.03 and a 12-month high of $83.40. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of -593.82 and a beta of 0.61. The company has a quick ratio of 0.33, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. The stock has a 50-day simple moving average of $78.83 and a two-hundred day simple moving average of $71.17.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.21. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. The firm had revenue of $729.95 million during the quarter, compared to analysts' expectations of $770.81 million. During the same period last year, the business posted $1.79 earnings per share. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts expect that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Monday, March 31st. National Fuel Gas's payout ratio is 479.07%.

Wall Street Analysts Forecast Growth

NFG has been the subject of a number of research analyst reports. Bank of America increased their price target on National Fuel Gas from $77.00 to $85.00 and gave the company an "underperform" rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, March 13th. Finally, Wall Street Zen upgraded National Fuel Gas from a "sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $82.33.

About National Fuel Gas

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.